Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Canuck Dave who wrote (84285)	12/8/2011 4:59:28 PM
From: TobagoJack	Respond to of 218430

a bulge-bracket investment manager friend texted me yesterday requesting help to make arrangement to buy 7 figures of gold coins and bars per month for the next 12 months as an off-balance sheet set-aside for his kids the fellow is already invested in gold by his fund so, yes, more serious about gold seems to be the trend by at least one data point

To: Canuck Dave who wrote (84285)	12/9/2011 1:47:47 AM
From: elmatador	Respond to of 218430

Fom 1998 LTM, through Enron to Lehman, all a trail of Shadow Banking System (SBS). " the role of Rehypothecation was considered, the U.S. SBS had grown to over $10 trillion, about twice as much as previous estimates. " Message 27814261

To: Canuck Dave who wrote (84285)	12/9/2011 6:56:08 PM
From: TobagoJack	Read Replies (1) \| Respond to of 218430

oh o as in oh sh*eet, or oops, it is starting to happen, the long feared event of multiple claims on every bar just in in-tray From: B Sent: Saturday, December 10, 2011 2:42 AM Subject: Re: Comments - Week of December 5 Pieces of ain't? businessweek.com HSBC Sues MF Global Brokerage Over $850,000 Worth of Gold December 09, 2011, 1:10 PM EST By Linda Sandler and Tiffany Kary (Updates with prices in first paragraph.) Dec. 9 (Bloomberg) -- HSBC Holdings Plc sued the MF Global Inc. brokerage trustee to establish whether he or another person is the rightful owner of gold bars worth about $850,000 and silver bars underlying contracts between the brokerage and a client. Five gold bars and 15 silver bars underlie eight Comex contracts between the brokerage and client Jason Fane of Ithaca, New York, London-based HSBC said in a court filing today. Both parties have asserted claims to the bars, creating difficulties for HSBC, which is storing them, the bank said, asking a judge to decide who the rightful owner is. “HSBC has received conflicting instructions regarding ownership and disposition of the property,” it said. “Accordingly, HSBC is exposed to multiple liabilities with respect to the disposition of the properties.” Bullion is selling for about $1,717 an ounce on the Comex in New York, up about 21 percent this year, as investors bought the metal to protect their wealth from Europe’s escalating debt crisis, and reached a record $1,923.70 in September. Treasuries returned 9.3 percent, a Bank of America Corp. index shows. Fane wrote HSBC after the bankruptcy, asking the bank to transfer the bars to his account at Brink’s, according to a copy of his letter filed in court. The trustee wrote HSBC saying the gold and silver was “customer property,” and the bank shouldn’t turn it over to Fane, HSBC said in the filing. Brink’s provides vaults and other services for the safekeeping of valuables. Broken Into Pieces The judge handling the bankruptcy said today he would deal in January with issues about distributing physical goods, such as gold and silver bars, after lawyers for some customers said they couldn’t get their share of the payouts because bars can’t be broken into pieces. <snip>